Premier Retail Sales Dip, Breville Stake Offsets Losses
Premier Retail FY26 sales fell to $795.5 million. Smiggle sales dropped while Peter Alexander hit a record. Total dividends reached 81 cents per share.
Key points
- Premier Retail FY26 sales were $795.5 million, down from $812.2 million in FY25. EBIT fell 9.9 percent to $175.9 million.
- Peter Alexander hit a record $565.3 million in sales. Smiggle sales dropped to $230.2 million from $264.2 million.
- Total FY26 dividends are 81 cents per share. At least five new Peter Alexander stores open before the end of 2026.
Premier Investments reported lower annual sales and earnings for its retail division in FY26. The company behind Peter Alexander and Smiggle saw EBIT drop 9.9 percent to $175.9 million. This decline occurred despite strong performance in its pajama brand.
Total retail sales slipped to $795.5 million from $812.2 million in the prior year. Peter Alexander drove growth, reaching a record $565.3 million. Smiggle dragged on results, falling to $230.2 million from $264.2 million. The mixed performance reflects divergent trends across the portfolio.
Peter Alexander drives record sales
Peter Alexander benefited from its new loyalty program. The Peter’s Dreamers scheme attracted over 1.4 million members in its first 10 months. These members contributed more than 60 percent of brand sales. Their average transaction value was 40 percent higher than non-members.
Chairman Solomon Lew attributed the sales jump to this loyalty push. The program helped maintain brand momentum during challenging retail conditions. This offset the weaker performance from the stationery division. The strategy focused on increasing customer retention and spend.
Smiggle faces difficult trading conditions
Smiggle sales fell sharply in FY26. The company has closed 13 percent of its stores since the start of FY25. A relaunch initiative delivered in March 2026 refreshed the product range. The brand now targets the 6 to 12-year-old demographic with new items.
Lew noted that discretionary retail conditions were very challenging in late FY26. This aligns with trends seen in other fashion retailers. Smiggle is launching a new loyalty program called Smiggle Club. The goal is to rebuild the customer base before peak trading.
Dividends and future store plans
The board approved a final dividend of 36 cents per share. This brings total FY26 dividends to 81 cents per share. Premier also holds a 25.2 percent stake in Breville. This appliance business paid 38 cents per share in dividends for FY26.
Premier plans to open at least five new Peter Alexander stores before the end of 2026. A large flagship store is scheduled for Sydney CBD next month. One existing store will also relocate or expand. Early FY27 trading shows sales within 1 percent of the prior period.
